The investment includes an amount of $960m to be spent by the firm in 2026 to construct a plant for manufacturing BEV batteries
Japanese automaker Suzuki Motor announces a $1.37bn EV investment in India. (Credit: Tokumeigakarinoaoshima/Wikimedia Commons)
Suzuki Motor has revealed plans to invest around JPY150bn ($1.37bn) in Gujarat towards the manufacturing of electric vehicles (BEV) and BEV batteries in the Indian state.
In this regard, the Japanese automobile company has entered into a memorandum of understanding (MoU) with the government of Gujarat government.
The signing of the MoU was done at the India-Japan Economic Forum in the presence of Indian Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida.
Suzuki Motor representative director and president Toshihiro Suzuki said: “Suzuki’s future mission is to achieve carbon neutrality with small cars. We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat).”
The Japanese automobile manufacturer will inject an amount of INR31bn ($400m) through Suzuki Motor Gujarat (SMG) in 2025 for ramping up the production capacity for the manufacturing of battery electric vehicles.
Additionally, Suzuki Motor Gujarat will invest INR73bn ($960m) in 2026 for constructing a plant for manufacturing BEV batteries.
Suzuki Motor also revealed that Maruti Suzuki Toyotsu India, a joint venture between Maruti Suzuki and Toyota Tsusho Group will make an investment of INR450m ($5.9m) in 2025 towards the construction of a vehicle recycling plant.